by Adam Armstrong

Pure Storage Releases Its 1Q18 Earnings Report

Pure Storage has announced its first fiscal quarter of 2018 earnings report. The company is reporting lower revenue and a higher net loss from the previous quarter. However, same quarter year over year showed a 31% increase in revenue and better operating margins. Overall the stock fluctuated a bit throughout the quarter to end near where it started.

Looking at this quarter’s numbers, revenue was $186.2 million down from last quarter’s $227.9 million but up from the same time last year, $139.9 million. Gross margin was 65.2% GAAP this quarter, down ever so slightly from last quarter’s 65.3% and down from this time last year (non-GAAP gross margin 66.4% up from last quarter’s 66.1%). GAAP Net loss was $62.4 million, up from last quarter’s $42.9 million. Non-GAAP net loss was $29.5 million up quite a bit over last quarter’s $4.8 million.

The earnings report is a bit of a mixed bag as it shows numbers a bit weaker than last quarter’s and at the same time showing better numbers from the same time a year ago. All in all, Pure continues to run at a loss. While this is the case, the company is expecting $214 million to $222 million for the next quarter with a gross margin of 63.5% to 66.5%. For the fiscal year, they are expecting $975 million to $1.025 billion in revenue. 

Pure Storage Investor site

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